Ready to Rent Out Your Property? Start by Finding the Right Property Manager.
Whether you're renting out an investment property or a home you've vacated, choosing the right property manager is the single most important decision you'll make. A great property manager protects your asset, maximises your rental return, and takes the day-to-day stress off your hands completely.
Compare Property Managers for Free
Find and compare local property managers by their fees, services, and landlord reviews—obligation free.
Find a Property Manager Now | Compare Property Managers
Property Management vs. Private Renting: Which Is Right for You?
The first decision every landlord faces: do you manage the property yourself, or hand it to a professional?
The Cons of Private (Self-Managed) Renting
Self-managing a rental property means you become a one-person property management team. That involves:
- Setting and reviewing the rental price
- Advertising and marketing the property
- Screening tenants and conducting reference checks
- Staying up to date with constantly changing tenancy legislation
- Handling all paperwork, lease agreements, and bond lodgement
- Organising and conducting inspections
- Managing repairs, maintenance, and disputes
It's essentially a part-time job at minimum—and the monetary saving often doesn't justify the added stress and risk. A survey by Woolcott Research found that two in five self-managing landlords experienced tenants defaulting on rent, compared to significantly lower rates for landlords using professional property managers.
The Pros of Using a Property Manager
A professional property manager handles all of the above—and more. Their comprehensive management service includes:
- Providing advice on current rental value and conducting a rental appraisal
- Advertising the property to qualified prospective tenants
- Screening tenants, including credit, employment, reference, and criminal history checks against national tenancy databases
- Preparing and executing the tenancy agreement
- Collecting and lodging the bond
- Collecting weekly or monthly rent
- Conducting property inspections and comparing inventory
- Paying utility accounts on your behalf
- Providing regular financial statements
- Attending tribunal or court on your behalf in the event of a tenant dispute
- Finalising the bond and condition report at the end of the tenancy
This service typically costs up to 10% of the weekly rental figure, plus a letting fee for finding and placing a new tenant. For most landlords, this is money well spent.
A Step-by-Step Guide to Renting Out Your Property
Step 1: Appoint a Property Manager
Finding the right property manager is like conducting a job interview. Look for:
- Excellent communication and organisation skills
- In-depth knowledge of your local rental market
- A focus on continuous improvement and ongoing education
- Strong references from current landlords
Use LocalAgentFinder to compare local property managers side by side—their fees, services, and independent landlord reviews—before you commit to anyone.
Compare Local Property Managers
Step 2: Prepare Your Rental Property
Before listing, ensure your property is presented to attract the highest quality tenants. This may include:
- Minor renovations or cosmetic updates
- Refreshing the kitchen and bathroom
- Fresh paint throughout
- New window fixtures or updated appliances
- Replacing any broken or worn fixtures
Important: Each state and territory has specific tenancy legislation, but across Australia your property's structure must be maintained to a habitable standard, and all gas, heating, electricity, and landlord-owned appliances must be compliant and safe.
Step 3: Secure Landlord Insurance
Renting out your property carries real financial risk—and if it's a home you've lived in, emotional risk too. Landlord insurance is specifically designed to cover what standard building and contents insurance doesn't.
Common inclusions in a landlord insurance policy:
- Malicious or intentional damage by tenants or their guests
- Tenant theft
- Loss of rental income if a tenant defaults on payment
- Liability claims made against you by tenants
- Legal expenses incurred in taking action against a tenant
Not all policies are equal—your property manager will typically have a recommendation, or you can research policies independently to find the right fit.
Step 4: Speak to Your Accountant About Tax
Renting out a property has tax implications. Inform your accountant before you list, and discuss whether a depreciation schedule is appropriate for your situation. This can meaningfully reduce your taxable income each year.
Step 5: Set the Right Rental Price
You may have a figure in mind based on your ownership costs—but the local market ultimately determines the rent. Your property manager will conduct a rental appraisal, reviewing:
- Your property's location and surrounding amenities
- Number of bedrooms and bathrooms
- Property size and condition
- Comparable rental listings in your area
Don't rely solely on their advice. Do your own research on realestate.com.au and domain.com.au—search a narrow geographic area and compare similar properties to validate the recommended figure.
During the interview process, ask each prospective property manager to provide a list of comparable rental properties they've successfully leased recently.
Step 6: Let Your Property Manager Run the Marketing Campaign
Only licensed real estate agents can list rental properties on the major platforms—including realestate.com.au, domain.com.au, and rent.com.au. A well-executed marketing campaign is critical to attracting quality applicants quickly.
When reviewing your listing, check that your property manager has:
- Included multiple professional photographs (taken after cleaning and garden maintenance)
- Written compelling advertising copy that highlights the property's key features, bedroom/bathroom count, and nearby amenities
- Listed the property across all major rental platforms plus social media
- Emailed the listing to their existing tenant database
- Screened applicants against a national tenancy database including credit, employment, references, and criminal history checks
The goal is maximum exposure to generate more applications—giving you more choice when selecting your ideal tenants.
Step 7: Sign the Tenancy Agreement
Once you've selected your tenants, your property manager will prepare the tenancy agreement. As the property owner, review it to ensure it includes:
- Full names and addresses of all parties (tenant, property manager or owner, and property address)
- Lease start and end dates, and whether it's a fixed term (6 or 12 months) or periodic agreement
- The weekly or monthly rent amount, and how and when it will be paid
- Any special conditions—no pets, no smoking, etc.—agreed to by the tenant in advance
Step 8: Complete the Entry Condition Report
Both the property manager and the incoming tenant are responsible for completing the entry condition report. This document records the written and photographic condition of the property at the start of the tenancy—and is critical protection for you if damage or disputes arise at the end of the lease.
What to Do Once You've Successfully Rented Your Property
With the right property manager in place and your tenants settled in, the hard work is largely done. Stay in regular contact with your property management team to ensure:
- The property is being maintained and inspected on schedule
- Rent is being collected and paid to you on time
- Any maintenance issues are being resolved promptly
- You're receiving regular financial statements
A good property manager proactively communicates—you shouldn't have to chase them.
How to Find the Best Property Manager for Your Rental Property
LocalAgentFinder makes it easy to compare property managers across Australia—whether you're renting out property on the Gold Coast, in Perth, on the Sunshine Coast, or in Hobart.
Compare local property managers by:
- Management fees and letting fees
- Services included
- Properties under management
- Independent landlord reviews and ratings
It's free, obligation-free, and takes minutes.
Compare Property Managers with LocalAgentFinder
Renting Out Your Property: FAQs
Should I use a property manager or self-manage?
For most landlords, a property manager is worth the cost. Research shows self-managing landlords are significantly more likely to experience tenant defaults and disputes. A professional property manager brings local market knowledge, legal compliance expertise, and a tenant screening process that reduces your risk substantially.
How much does a property manager cost in Australia?
Property management fees typically range from 7–10% of the weekly rental figure, plus a letting fee (usually 1–2 weeks' rent) when a new tenant is placed. Fees vary by location and agency—use LocalAgentFinder to compare fees in your area.
How do I find the right property manager?
Treat it like an interview. Look for strong local market knowledge, clear communication, transparent fees, and verifiable references from current landlords. Compare multiple agencies before committing—LocalAgentFinder lets you do this for free.
What is a rental appraisal?
A rental appraisal is when a property manager assesses your property and recommends a weekly or monthly rental price based on current market conditions, comparable listings, and your property's specific features. It's typically a free service and a critical first step before listing your property for rent.